Background on Apple Inc.
Apple Inc., a leading technology company, is renowned for its innovative products and significant influence on the tech industry. Founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976, Apple has since become a household name with its iconic products like the iPhone, iPad, and Mac computers. The company’s market capitalization consistently ranks among the highest in the world.
Apple’s Annual Product Update Presentation
On this particular Tuesday mid-day, Apple’s stocks dropped by 1.40% in Nasdaq trading, falling to $234.58 per share following the company’s annual product update presentation.
New Product Announcements
At the event, Apple unveiled two new smartphones: the iPhone 17 and the iPhone Air. The company claimed that the iPhone 17 is its most durable phone to date, featuring a brighter and more scratch-resistant display. The standard iPhone 17 model starts at $799, while the iPhone Air begins at $999. The iPhone 17 Pro retails for $1,099, the same as its predecessor.
Both new smartphones will be available starting September 19. Additionally, Apple introduced an updated version of their wireless earbuds, AirPods Pro 3, and a blood pressure monitor feature in the latest Apple Watch.
Key Features of New Products
- iPhone 17: Boasts a brighter, more scratch-resistant display and a new A19 chip with enhanced AI capabilities.
- iPhone Air: Thinner design with a high-density battery and the same A19 chip as the iPhone 17.
- AirPods Pro 3: Offers real-time language translation during conversations between two users wearing the earbuds.
- Apple Watch: Features a blood pressure monitor for users’ health tracking.
Market Reaction and Future Comparisons
As is common when Apple presents new products, its stocks typically fall on the day of the announcement. This time was no different. The new smartphone releases follow recent product launches from competitors Samsung and Google, who introduced foldable phones with large screens.
Key Questions and Answers
- What are the new Apple products? The newly announced products include the iPhone 17, iPhone Air, updated AirPods Pro 3, and a blood pressure monitor feature in the latest Apple Watch.
- When will these products be available? The new smartphones and AirPods Pro 3 will be available starting September 19.
- What are the price points for the new iPhones? The standard iPhone 17 starts at $799, the iPhone Air at $999, and the iPhone 17 Pro also at $1,099.
- How did the market react to these announcements? Following the presentation, Apple’s stocks dropped by 1.40% on the Nasdaq.
